About Jammu and Kashmir Bank

Jammu and Kashmir bank is one of the emerging banks in the country. It was established in the year 1938, whereas it was operational after a year in 1939. The bank has been started to provide the best banking products to the people of Jammu and Kashmir. It was formed under the letter patent issued by the Maharaja of the state Hari Singh. He came up with the letter asking the prominent people to come forward and invest in it. He asked them to be the stakeholder of the bank. The bank was first of its kind where it was also considered as the Semi-government bank. As the capital invested in making this was invested by the government and the people under the control of the government.

The bank is one of the most growing banks in the country where it is increasing its bank branches to grow its network. It has set up 684 branches in the entire country along with 1035 ATMs throughout India. The most important aim of the bank is to capitalize on the growth of the country and catalyze the economic transformation. It wants to become one of the super specialist banks in the country for the people of India. It focuses on offering the international standard of the products and services to the customer. IT is one of the developing banks and aims to become one of the most trusted banks in the country.

Products Offered by Jammu and Kashmir Bank in Hyderabad

Jammu and Kashmir bank has been providing the many and wide variety of financial products and services. The products include the personal loan, home loan, education loan, loan against property, and car loan. The other products that are provided by the bank to give financial solutions and cover all the banking options include the insurance, mutual funds, and deposits.

Basic details about Jammu and Kashmir products

Product

Eligibility

Loan Amount

Interest Rate

Processing Fee

Tenure

Personal loan

The applicant should be at least 21 years of age at the time of application and the maximum age should be at least 60 years at the time of loan maturity.The minimum net annual income of the applicant should be ₹ 3,00,000 per annum.The minimum work experience should at least be 2 years. The applicant should have the minimum of 1year work experience with the current organization. 1 year relationship with the bank.

₹1.50 lakh

12.30% - 14.30%

1% of the loan amount + service tax (as applicable)

36 months

Home loan

The applicant should be at least 18 years of age at the time of application and the maximum age should be at least 70 years at the time of loan maturity.

The applicant should be salaried individual working in the state or central government,PSU’s, reputed companies, self- employed, professional, businessman,and retired individual of state/central government or Public sector undertaking.

The applicant can be the person engaged in the agricultural and allied activities.

The minimum work experience should at least be 3 years of service for the salaried individual and for the self- employed minimum 3 years of service in the current business or profession.

For construction- Up to 36 times of the net salary.

For purchase of land- Maximum up to ₹ 50 lakh or 60% of the total cost of the land whichever is less.

For repairs & renovations - Up to ₹ 25 lacs

8.55% - 9.00%

0.25% of the loan amount

30 years

Education loan

The student should be the resident of India.Should have secured the admission through entrance exam/ merit based selection.The student should have the guarantor/ collateral.

For India:₹ 10 lakhFor abroad: ₹ 20 lakh

10.40% - 11.65%

Nil

Moratorium: course period + 1 year 0r 6 months after getting the job.

Up to the period of 15 years after moratorium period.

Car loan

The applicant should be at least 21 years of age at the time of application and the maximum age should be at least 60 years at the time of loan maturity.

The minimum net annual income of the applicantshould be ₹ 3,00,000 per annum for salaried

The minimum net annual income should be ₹ 4,00,000 for the professional and person active in agricultural and allied activities.

For others the minimum annual net income should be ₹ 5,00,000

The applicant should have at least 1 year of work experience at the current employment.

36 times of the net monthly salary or 3 times net annual income.

For contract private employee and retired pensioners- 24 times of the monthly salary or 2 times net annual income

The documents required by the individual, Hindu undivided family, and sole proprietorship at the time of applying for the fixed deposit areA coloured photographPassport/ Driving LicenseLast six months bank account details

Documents required from the trust, association/ clubs for the fixed deposit are as followPhotographs of the member operating the account.A Copy of the Trust Deed/ Bye- laws of the association.A Copy of registration certificate.A Copy of the resolution of trustee authorizing the member to operate and open the accounts.

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